Cash receiving above 2lak

Yes you can provided that cash amount should not exceed 10000 rupees u/s 269ST

Section 269ST prohibits any person to receive an amount of Rs.2 lakh and above in cash:
(i) In aggregate from a person in a day, or (ii) In a single transaction, or (iii) In respect of transactions relating to one event or occasion from a person .

Originally posted by : Harmehar Kaur
	in case if i have made sale of 4lakh rs received 2 lakh rs in bank can i take rest 2 lakh in cash with different dates but not exceeding 10000 rs per day

Less than 2 lacs cash receipt will not attract any penalty. A single entry on a single day is acceptable in this case. Ensure that it is not >= 2 lacs.

Disallowance exceeding Rs.10,000/- pertains to cash payments (not receipts).

Yes you can provided that cash amount should not exceed 10000 rupees u/s 269ST

You Can take 2 lakh in Cheque and other 2 lakh bi cash like 1--1 lakh on separate day...there is no violation from your side.
Limit of Rs. 10,000 is for payment in cash..
for receipt in cash limit is 200000.
( So, you can accept less than 2 lakh in single day )

I will suggest you all please read section 269ST, what is written in it,

Section 269ST prohibits any person to receive an amount of Rs.2 lakh and above in cash:
(i) In aggregate from a person in a day, or (ii) In a single transaction, or (iii) In respect of transactions relating to one event or occasion from a person .

So in my view you cannot accept the cash of Rs. 2Lakh, as it's a single transaction or single event.

2 lakh rupees should be received in any mode through cheque, account payee bank draft, or through other online modes, but cash receipts should be less than 2 lakhs rupees u/s 269ST and cash payment should not exceed 10000 rupees in a single day or in a single transaction for both nature's

In 269ST also other condition, so that must also be satisfy

Also the conditions are...

A person can repay your loan amount to any HFC (Housing finance company) or NBFC (Non-banking finance company) in cash provided each loan instalment is less than Rs 2 lakh.
The government in the last budget introduced Section 269ST. Under the section, cash transactions exceeding Rs.2 lakh are prohibited with a view to promote digital economy.
Section 269ST prohibits any person to receive an amount of Rs.2 lakh and above in cash:
(i) In aggregate from a person in a day, or (ii) In a single transaction, or (iii) In respect of transactions relating to one event or occasion from a person . After introducing this section, various representations were sent by NBFCs and HFCs as to whether the limit of Rs.2 lakh shall apply to one instalment of loan repayment or for the whole amount of such repayment.
In this context, the income tax department clarified that if you are repaying the loan to NBFCs or HFCs, the one instalment of loan repayment shall constitute a single transaction. And so if the single loan instalment amount is less than Rs.2 lakh, it can be paid in cash. All the instalments paid for a loan shall not be aggregated for the purposes of determining the applicability of Rs.2 lakh limit.

Harmehar Kaur Ji , but in all I will suggest try to avoid the cash transactions, if possible